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Dockworker's Guild Seizes All Station Cargo Holds
--NEWSFLASH--
UIT SENATE, DAU- In a surprise move that has shocked markets from Dau to Deneb, the Intergalactic Dockworker's Union (IDU) has forcibly taken control of every station's cargo storage areas and imposed new universal limits. Senate response to the seizure has been lackluster, fueling speculation that they are unable to move against the IDU due to the union's overwhelming power. A representative of the UIT, speaking anonymously as they were not authorized to release this information, has said that "[The Senate] has approved the implementation of these new limits in closed-door sessions, but has been unable to act formally due to continuous filibusters by representatives of the Aeolus Trading Prefectorate, the Guild of Free Traders, Tunguska Heavy Mining Concern, and several independent members."
Rumors of such a move had been circulating for months, as complaints of market manipulation and predatory trading practices by several individuals and associations mounted. The IDU was at the forefront, accusing elite traders of deliberately hoarding goods to drive up the price, only to sell everything once the goods reached a threshold value, thereby locking in a huge profit before the station Logistics and Commerce departments could log the massive inventory change. The imposition of individual cargo limits was strongly favored as a method of limiting the economic damage such firesales were causing, but the details of such a plan have proven highly contentious at best.
An IDU spokesman has released the following statement in regards to the seizure: "While we regret that force has become our only option for change, the constant foot-dragging by the various governments and agencies involved while our problems mounted can no longer be tolerated. Effective immediately, all traders who are not a formally recognized and regulated government entity, or a UIT sub-corporation with station ownership, shall be limited to a maximum of fifty thousand standard Cargo Units of space, and shall have to pay a nominal fee for storage over ten thousand Cargo Units, to cover the costs and dangers associated with such large volumes. Due to the suddenness of this imposition, we will respect the current storage levels for the foreseeable future, but will not permit additions beyond this limit. We will continue to occupy and run the docking facilities as normally as possible during this difficult period, and we ask the governments of the galaxy to establish new unified rules, as they have repeatedly promised, with all due haste."
Pressure is expected to mount on the Senate to establish a more viable allotment system for cargo space on stations. Deregulation of the current allotment-based government-run system is wildly expected to take place, with the public and private sectors taking over operations and running them on a for-profit basis. Markets opened sharply lower at the start the day, though some recovery has taken place since, with most hovering only slightly below opening values. Stocks in heavy equipment and consumer electronics manufacturers led the declines, while investment firms and others poised to benefit from deregulation of cargo allotments have led the recovery, in heavy trading volume.
(Have you been affected by the IDU seizure? Send us your comments by clicking on the Reply link now.)
UIT SENATE, DAU- In a surprise move that has shocked markets from Dau to Deneb, the Intergalactic Dockworker's Union (IDU) has forcibly taken control of every station's cargo storage areas and imposed new universal limits. Senate response to the seizure has been lackluster, fueling speculation that they are unable to move against the IDU due to the union's overwhelming power. A representative of the UIT, speaking anonymously as they were not authorized to release this information, has said that "[The Senate] has approved the implementation of these new limits in closed-door sessions, but has been unable to act formally due to continuous filibusters by representatives of the Aeolus Trading Prefectorate, the Guild of Free Traders, Tunguska Heavy Mining Concern, and several independent members."
Rumors of such a move had been circulating for months, as complaints of market manipulation and predatory trading practices by several individuals and associations mounted. The IDU was at the forefront, accusing elite traders of deliberately hoarding goods to drive up the price, only to sell everything once the goods reached a threshold value, thereby locking in a huge profit before the station Logistics and Commerce departments could log the massive inventory change. The imposition of individual cargo limits was strongly favored as a method of limiting the economic damage such firesales were causing, but the details of such a plan have proven highly contentious at best.
An IDU spokesman has released the following statement in regards to the seizure: "While we regret that force has become our only option for change, the constant foot-dragging by the various governments and agencies involved while our problems mounted can no longer be tolerated. Effective immediately, all traders who are not a formally recognized and regulated government entity, or a UIT sub-corporation with station ownership, shall be limited to a maximum of fifty thousand standard Cargo Units of space, and shall have to pay a nominal fee for storage over ten thousand Cargo Units, to cover the costs and dangers associated with such large volumes. Due to the suddenness of this imposition, we will respect the current storage levels for the foreseeable future, but will not permit additions beyond this limit. We will continue to occupy and run the docking facilities as normally as possible during this difficult period, and we ask the governments of the galaxy to establish new unified rules, as they have repeatedly promised, with all due haste."
Pressure is expected to mount on the Senate to establish a more viable allotment system for cargo space on stations. Deregulation of the current allotment-based government-run system is wildly expected to take place, with the public and private sectors taking over operations and running them on a for-profit basis. Markets opened sharply lower at the start the day, though some recovery has taken place since, with most hovering only slightly below opening values. Stocks in heavy equipment and consumer electronics manufacturers led the declines, while investment firms and others poised to benefit from deregulation of cargo allotments have led the recovery, in heavy trading volume.
(Have you been affected by the IDU seizure? Send us your comments by clicking on the Reply link now.)
About time if you ask me. Cargo overloads were jamming up the passageways on important military facilities. That gets people killed, and it is always a shame when people die without a fighting chance.
-Adm. "Truncate" Harolus
[1]st Geira Div.
-Adm. "Truncate" Harolus
[1]st Geira Div.